In this monetary era when every single thing is hard, a loan is like a common thing. In some cases, it has became the best friend of everyone. Money is hard to get. Everyone has her/his needs and dreams. When there is a desire and there is no money, a loan is the right answer. To make your dream in owning a property or real estate come true, a mortgage is there. Almost every home loaner or a mortgage claims itself as the best one. Honey is what they gives to the customers. All of the words they say is a good one. Everything is sweet and smooth. Apparentely, not all of it is true. Sometimes, those sweet things used to lure the customers to join. In some cases, the fact and the bait are different. Of course, not all the mortgages are same. The good ones are still existed. In every prosess, the problem probably happens, anywhere and anytime. No one knows and predicts. In the industry, Nationstar under investigation ever became a hot bread.
Nationstar Mortgage is considered as one of big mortgage in the United States. The company was found in the year of 1994. This based-on Dallas (Texas) home loaner has more than 2.9 million active customers. Nationstar Mortgage offers the high quality servising for all the customers outside there. Jay Bray has become the CEO of Nationstar Mortgage since 2012.
The “Nationstar under investigation” was started when there was an explosive growth of Nationstar Mortgage. The Financial Services Department of United States was worried that the explosive growth of Nationstar (non-bank mortgage servicers) can cause the capacity issue. Such issues can put the customers on the risk. Shortly, as stated on the news, the plaintiffs complained about some troubles. Firstly, Nationstar was using the automated default servising flatform in illegal way. Secondly, Nationstar’s side has charge the homeowners for the thing which aren’t required by lenders, aren’t permissible by the guidelines (of lender), and does not allow under the rule and regulation of the state (note: for some cases) like “investigations of property”. All of it are such a way for Nationstar to get honey from some fees. Those fees are the fees of inspection, the fees of default, and else. Next, plaintiffs mentioned that that the company did a black thing such as “pay to pay”. The customers was beinv overcharged with a fee by Nationstar. This fee causes increase of amount of payment every month. Those such problems has dragged Nationstar to the very edge of the cliff. As the result, some sides awarded Nationstar as one of the worst one related to the public services. When the trust has gone, they will be no trust no more. One mistake can can everything. All the investigation will be held in New York by chief financial administrator.
The unexpected (or expected) problem might appers in this industry, just like in any other fields. Such a thing cannot be avoided, sometimes. The troubles might be a little or a huge one. Everyone tends to call the huge one as a scandal. A lot of scandals in the economic field has been recorded by the history. Hopefully, the topic such as “Nationstar under investigation” can make people learn. To prevent such thing happens again in the future, mortgages should improve itself in every way and the customers should be more careful.